Artificial intelligence is a word too often used by companies and ordinary people of today. It has made its place in the rapidly advancing world where everyone is looking for new and better ways of improving productivity and performance. Here it wouldn’t be incorrect to say that the world has seen a significant boost in sales and profits due to the next-generation technologies being used.
We can make you count on your fingertips the strategies and technologies that have paved the way for a better future within seconds, starting from AI and moving to the blockchain. According to a recent International Data Corporation research, AI spending is expected to increase by more than $ 50 billion by 2025. Thus, showing how AI is changing the industries in today’s scenario.
Till now, we have only focused and talked about tech-related industries but do you know even the marketing sector is greatly affected by it? Many companies are adopting the AI smart products strategy in the USA to reach a greater audience with the finest products and services. Remember, it all starts with designing and developing intelligent technology solutions that increase efficiency while enhancing user experiences.
This blog will look at artificial intelligence and how it has evolved while impacting every sector. Let’s start with knowing what AI is actually.
AI or artificial intelligence is a comprehensive word that has created an immense buzz worldwide. Many describe it as the simulation of human intelligence that is implemented in machines that are developed to think and act like them. It basically mimics humans. Seeing this, we can say that it is a part of computer science. It helps machines learn from human behavior by detecting patterns and taking similar actions, hence improving their problem-solving skills to a great extent. Not to forget, machine learning and deep learning are a part of AI that have contributed significantly to the developing world, and many new discoveries are being made on the basis of this one particular strategy or technology.
Moving on, many of us know it is categorized into four elements that deal with the advancement of AI. However, the last stage or category is still in the experimentation stage and will take a long time before scientists can design a self-aware robot. Yes, we often associate AI with robots, as it is what best describes it with its ability to automate tasks and get them done through machines. The four main classifications are:
Companies have somehow an integrated theory of mind, but they are still far from the last type, and once that happens, it will revolutionize the tech industry completely.
We talked about it affecting various industries like construction, healthcare, retail, logistics, manufacturing, etc. But here, we will entirely focus on marketing and how it is changing the world.
This term might look complicated to understand, but in reality, it is the simple use of AI technologies to help businesses make automated decisions with the help of collected and analyzed data. It even takes the help of observations from the audience and economic trends that usually impact all the marketing or branding efforts. Not to forget, it is often used for digital marketing where the primary focus is speed to get to the customers.
We are well aware of today’s trends and how the world works, where most data play a vital role in helping analyze the situation and make a firm decision. The same goes here. The artificial intelligence tools use relevant data and customer profiles to learn the best ways to communicate with customers. They use customized messages at the right time to ensure efficiency but without any intervention from the marketing team.
Let’s look at today’s digital marketers or agencies. We will find them using AI to augment the marketing team or perform more technical and strategic tasks that require less human intervention. Moreover, similar to basic AI, marketing AI solutions are divided into different types, playing a vital role in helping businesses connect with users worldwide.
Here are a few known tactics or solutions that help bridge the gap between the data collected from customers and the actions taken by marketers for future promotional campaigns.
ML is the abbreviated form of machine learning, well-driven by AI to analyze data and improve digital campaigns by using powerful algorithms. All the devices that use ML are known for analyzing and interpreting new information in relevance to historical data that helps inform businesses based on past outcomes and whether it has worked. Remember, machine learning is mostly the basis of many marketing campaigns that use artificial intelligence as it makes the process much easier, helping companies plan a successful strategy with the help of past data.
Another well-implemented strategy is the big data that have reshaped the business landscape, especially in terms of the marketing field. As the demand for digital marketing or media increased, there was a need for managing the data and using it in the most productive way possible. It enables companies and even marketers to understand the marketing sector and its value across various channels. It even led to the over-saturation of information, where many of the markets struggled to decide which data sets were worth gathering. Here artificial intelligence marketing has helped go through all the information at lightning speed while filtering out the important things. Furthermore, it analyzes the data and recommends the top elements that are part of future digital marketing.
Companies these days are opting for the best AI-powered marketing solutions to leverage marketers with a central platform to manage all the data gathered. Besides this, they help gain in-depth marketing intelligence insights from the audience to make effective decisions. All this leads to reaching the target customers in the most efficient ways.
Alibaba is a giant and well-known retail company that opened its physical store named ‘FashionAI’ in Hong Kong. It was done to align all the possible fashion experiences in a retail set using AI. It started by equipping its store with intelligent garment tags, which helped detect when an item was touched. It even has placed smart mirrors that have taken technology up by notches with the ability to display clothing information and even recommends the best pairing items. Its AI marketing tactics show the integration plan of a brick-and-mortar store that will have a virtual wardrobe app, allowing users to see all the outfits they wore in the store.
Persado is a company based in New York that implements AI in the marketing field. It helped Chase Bank in copywriting, helping them achieve better results with their marketing department just with the use of machine learning. Hence, it ended up signing a five-year contract. Persado used a more positive approach to grabbing the customer’s attention while playing with the correct use of words where users feel important. Hence, making Chase the first one to engage in large0-scale ML copywriting. Soon after, the company gained immense recognition and was hired as an Artificial Intelligence Consultation by many businesses to help design their future through marketing.
Another global e-commerce marketplace that strives to look for smart ways of interacting with customers got all the limelight with its AI marketing tactics. eBay is a well-known company that has been using AI since the start of 2016. Its platform Phrasee has changed the marketing language by improving promotional activities and shifting its focus to emails. It opts for email marketing optimization, which is a relatively simple process compared to other techniques. They test various lines and CTAs to determine what works best for them. However, it becomes complicated as it has over 101 million email subscribers spread worldwide, so creating impactful messages or subject lines to increase the open rates becomes tricky. All this got a lot to handle, making eBay opt for Phrases to lessen the burden.
Here Phrases used a combination of deep learning and natural language generation to design or create copy to optimize performance. Here its linguistic team uses unique language models to generate personalized copy according to the brand personality, user needs, and advertising with one click.
One of the best-selling coffee places to date has to be Starbucks, which is loved by millions of people globally and didn’t hold itself back from implementing an intelligent AI strategy for its marketing. According to recent research, more firms are identifying their target audience needs via predictive analytics, which is believed to increase organic revenue by 21% every year compared to 12% on average.
It uses its loyalty card and mobile application to gather data from customers and analyze it. It uses advanced predictive analytics to process all the information collected from the app with every detail of the purchases, like when and where it was bought, to improve the user experience. It uses this data for analysis and sending personalized branding messages to customers. All these messages include recommendations and special discounts to give the customer orders some value.
Artificial intelligence has opened doors for industries to improve their productivity and efficiency to increase user satisfaction, leading to profitability. In a time when the world has gone digital, it becomes essential to adapt to it accordingly. Thus, giving rise to digital marketing that uses advanced technologies to reach more and more customers in better ways. As soon as artificial intelligence was implemented in marketing, it improved promotional campaigns. Now everything is automated, requiring less human intervention to complete tasks. Even the messages sent to subscribers are automated and written in the best possible ways to drive action. Contact us now to multiply your ROI if you are looking for such strategies to make your marketing game strong.